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Record financing for SMEs in Europe

The European Investment Bank and the European Investment Fund have said an unprecedented amount of money has gone into supporting small and medium-sized companies across the EU in the past 12 months.

European Investment Bank (EIB) President Werner Hoyer said in Brussels on Tuesday the EIB Group consisting of the lender and the European Investment Fund (EIF) made a large contribution last year toward creating jobs and growth in the bloc.

He said the boost came through large-scale financial support of projects by and investments in SMEs, key infrastructure, innovation and the environment.

"At a time of uncertainty, the EIB Group has shown that a truly European approach to investment is bearing fruit," Hoyer said in a statement.